Do More With Reuters
Partner Services

APEC leaders agree long-term goal to cut emissions

Sat Sep 8, 2007 1:08pm IST
 
Email | Print | | Single Page
[-] Text [+]

SYDNEY (Reuters) - Asia-Pacific nations, including China and the United States, agreed on Saturday to adopt a "long-term aspirational goal" to reduce greenhouse gas emissions, Australian Prime Minister John Howard said.

Howard said 21 Asia-Pacific leaders meeting in Sydney had agreed on the need for all nations, developing and developed, to contribute according to their own capacities and circumstances to reducing greenhouse gases.

"I am pleased to report in the Sydney Declaration the leaders have moved to forge a new international consensus," Howard told reporters at the end of the first day of the weekend summit of the Asia Pacific Economic Cooperation (APEC) forum.

"We are serious about addressing in a sensible way, compatible with our different economic needs, the great challenge of climate change," Howard said.

"This demonstrates the relevance of APEC. It demonstrates that APEC is very much alive and kicking."

Howard said the leaders had also agreed on the need for "specific APEC goals on energy intensity and forestry" and the important role of clean coal technologies.

Coal, the most abundant conventional fossil fuel, is responsible for a quarter of the world's total carbon emissions.

The declaration was seen as a compromise between the rich and poor APEC economies, which together account for about 60 percent of the world's economy.

Developing economies, led by China and Indonesia, opposed any wording that committed them to binding targets, believing it would hinder economic development. They argued that developed nations should take more responsibility for climate change.  Continued...

Dubai Debt Fears

Villas are seen on the The Palm, Jumeirah, with Atlantis, The Palm, under construction on the breakwater (crescent), May 3, 2008.  REUTERS/Jumana El Heloueh

Banks outside the Gulf played down their exposure to Dubai debt, after fears the emirate could default and even derail world economic recovery prompted a sell-off in global markets.  Full Article | Slideshow 

India Investment Summit 2009
India Investment Summit 2009

Top executives and bankers discuss their own plans and the broader opportunities and challenges for India.  Full Coverage 

Photo
People stroll outside the Taj Mahal hotel ahead of the first anniversary of the militant attacks in Mumbai, November 24, 2009.  REUTERS/Punit Paranjpe
Investors worry about another attack

The risk of militants striking again worries investors who fear that a second attack similar to last year's Mumbai raids could shake the economy.  Full Article | Full Coverage 

Market Update

  • IndiaIndia
  • USUS
  • UKUK
  • Asia
  • Most Actives

road to Copenhagen

BLOGS

Photo
Calculated Move

Reliance aims big with $12 bln bid for LyondellBasell.  Blog 

SHOWCASE

Capital Raising
Capital Raising

Analysis - China banks' rush for billions could trip markets.  Full Article 

 
Photo
Bonus Payout

"Bonus" has become a dirty word on Wall Street.  Full Article 

 
Bubble trouble?
Bubble trouble?

With the BSE Sensex at around 17,000 points, are the Indian equity markets looking at a possible bubble?   Commentary 

 
Funding Blues
Funding Blues

A popular tactic used by Indian brokerages to raise money for rich clients is likely to be banned.  Full Article 

 
Recovery Path
Recovery Path

Indian techie logging out of downturn gloom.  Full Article 

 
Central Banks Cautious
Central Banks Cautious

Reuters tracks the policies of the world's top central banks as the debate over global economic recovery rages on.   Full Coverage 

 
Risky Proposal
Risky Proposal

Rupert Murdoch courts trouble if he blocks Google on news.  Full Article